Tin Tun Naing, the minister of planning of exiled Myanmar’s National Unity Government, in a Bloomberg interview on Sept. 6, said that the exiled democratic leaders were looking for US “permission” to launch a CBDC backed by $1 billion of the country’s reserves, frozen by the US FED since February 2021. The democratic leaders were ousted in a military coup in 2021 and have been in exile since. The minister added that the digital currency will help fund the revolution against the military junta. In the same interview, the exiled leaders also asked for the establishment of a New central bank in a bid to help the shadow government. A CBDC is essentially a legal currency form issued by any Central bank in a digital form.
